The Equity Release Victims Association

We believe you mean to say jurisprudence, as jurisdiction refers to courts dealing with the cases. Yes, this resolution from Supreme Court sets a precedent,however, please bear in mind that Spanish Legal system is different to the UK and it is not based in common law.

The Supreme Court establishes another important factual point: that SLM was indeed an investment services’ company because “the combination of a loan and its application to an investment fund is a financial instrument of those listed on article 2 of the Stock Exchange Act”, being immaterial if claimants had or not sued related investment companies since who really managed the fund was SLM, and those investment companies were nothing but agents acting for and on behalf of SLM.

With reference to the above statement would this also apply to Rothschild Credit select Series 4 as Rothschild had the final say in were the investment were placed and with whom they were placed with for investment as the lender had no say in the matter. Rothschild also monitored the investment as they sent out statements when people were in breach of their mortgage loan.

SL Mortgage Funding nº1 Limited (SLMF), based in Chester (UK), had not applied for the necessary regulatory permits to legally raise funds from the public and provide an investment service – activities reserved and regulated by the Bank of Spain and the CNMV (financial regulator).

Whilst Rothschild is registered in Madrid in Spain the Credit Select 4 Series was put together by Rothschild Rothschild Bank (CI) Limited in Guernsey did they the hold necessary regulatory permits to legally raise funds from the public and provide an investment service in the Provence Of Malaga